Brokers keeping listings, anyone else?

[jessiesc]

In Florida, an agents listings belong to the broker.

When leaving one broker for another, some of the more ethical and successful brokers will give the agent their listings to take with them.

Unfortunately, during our recent move to KW our C21 broker opted to not give us our listings (even though during discussions he agreed to do so).

Anyway, I was wondering how some of you other brokers handle a few of these issues:

Do you give your agents their listings if/when they leave? Will you put it in writing? With our new office at KW, our listings go with us if we leave and it's in writing.

How do you disperse incoming leads? At our new KW office, all leads from our listings or website go to us directly. At C21 all leads always went to the floor no matter who was on, whether they knew anything about the property or not.

Thanks in advance as usual

[gregharaksin]

In CA, listings belong to broker also.

How about if you signed a referral agreement with the old broker? See if they will let you take the listing if you give C21 20% (or whatever) as a referral fee. It's better than the broker putting your clients in someone else's hands.

Otherwise, if the listings stay, and sell, do you still get paid? I think in CA they have to still pay you commission, but it will be reduced because the broker has to pay another agent to handle the transaction.

Sorry to hear of your dilemma, but it sounds as if you had to make the move.

[satxproperty]

One of the local franchises here, all of the listings are under the broker/owner's name regardless of which agent actually got the listing. He's an exception, I don't know of any other brokerage that the broker specifically lists the listings for the entire office.

As for keeping the listings when you leave, in Texas, everything you do as an agent is the brokers... what I see alot doing is "pre-arranging" with clients to cancel the listing at you old brokerage; then magically re-listing them after the move.

Years ago when I left a franchise, the broker wouldn't part with the listing, since it already was under contract. Alot of magic happens at brokerages, the agents manual got amended the week I was leaving to change the commission split/fees for departing agents.

As for incoming leads, why are leads going somewhere besides your own email and your own phone number to begin with? Occassionally, I call for agents around here that have moved and the office receptionists, magically, never heard of the agent I am looking for, even though they had been in that same office for years.

[jessiesc]

As for incoming leads, why are leads going somewhere besides your own email and your own phone number to begin with?

On C21 signs, the brokers number is always listed so passersby sometimes will call the first number, not the number on the rider.

Also, sometimes from webhits we may be on the phone and they will call the office. At C21, they will just give the call the floor person even if they ask for one of us directly.

Yes, we made a very good move.

All our listings have opted to move with us. However, the broker is not releasing their listings (there was no fee for withdrawl in the original contracts) or at least taking their time releasing them.

The office manager actually contact all the listings and asked to "reassign" the listing to another agent. None of the listing customers accepted this, since they were all web hits and our personal customers.

It's unfortunate because this puts the customer in the middle which is terrible customer service. We're doing our best not to put them in the middle, but they are starting to get very angry with C21.

We're hoping this doesn't spill off onto us.

Thanks for the replies.

I wasn't sure if in all states listings belong to the broker or not and how exits were handled.

[escapeso]

At KW they let you take the listing but you still have to pay the broker split after you leave. Which kind of makes sense. They are still making the same amount of money they would have made on the deals if the agent didnt leave. And if they tried to take the listing they would probably just lose it anyway.

[coastal]

When my wife left Prudential Gallo Realtors in Rehoboth Beach Delaware they kept all of her listings and demanded to keep all of her old leads as well.

F them. We were the #1 sales Team at our new brokerage this year and Prudential could have had 30% of our cut if they had not been such A holes

[jessiesc]

Personally, I think this is very bad business on the part of the broker.

It's bad for the customer, bad for the agent and broker could end up with nothing at all, not to mention a terrible reputation.

Coastal, I feel your pain. We were #2 this past year in the office.

I look at it this way, while it is a terrible situation, the best revenge is success!

[escapeso]

Coastal -

Exactly if they had let you keep them they would have kept 30%. I mean if they are assigning them to another agent I doubt they will get any more $. All that will happen is the new agent is alot more likely to lose the listings before the sale than the original agent the clients signed with.

[Joe Cline Austin]

I think that's normal for the broker to put that in the agreement, but with a high quality broker, who understands that they will do business with you again, I'd expect them to let you take the listings with you. After all, if you've built a great relationship and trust with your client they aren't going to look kindly on losing their "go to" person and starting all over with another agent. I think a lot of it might be based on how the parties part ways, but if I had an agent with a bunch of listings that was leaving, I'd give them the listings. A lot of times the greener grass appears less green once you're there. At least parting this way you as the broker have (1) made the clients happy, (2) made the agent leaving happy, (3) fostered a relationship with everyone of goodwill and trust, and (4) have left a good relationship with the agent who may very well come back to you.

Just my opinion.
Joe

[John Allen]

I can see both sides of the coin here. As a broker/owner, I understand that the broker invests time and money in agents and listings. If a broker spends money marketing a listing, he should be entitled to a portion of the commission when the property sells. However, if the broker does not spend any out of pocket dollars, I would say they should give a full release.